Investment Commentary – April 2020
April 27, 2020
The coronavirus outbreak and ensuing lockdown delivered an unprecedented hit to the global economy and the financial markets. Though recent weeks have seen millions of Americans file for unemployment and historic losses in the stock market, it does appear that the worst has passed. Government officials across the nation are beginning to implement plans for the economy to reopen, and the stock market has recovered about half of the losses it had seen. We have made great strides in containing and treating the virus, and the crisis becomes more manageable every day. While no one can predict precisely what the economic recovery will look like, we believe that the overall direction of the economy is positive. The recovery will likely be choppy, and there will be increased periods of volatility over the next year, but these periods will allow us to make strategic moves, confident that the economy is heading in the right direction.